BIRMINGHAM, Alabama – Regions Financial Corp. (NYSE: RF), the lone Fortune 500 company still headquartered in Alabama, had an economic impact on the state valued at $3.3 billion last year, not including loans, an impact analysis has found.

The analysis, done at Regions' request by consulting firm Tripp Umbach, determined that the company supported 21,779 jobs in Alabama, including directly supporting 11,134 and indirectly supporting 10,645.

“This means that in Alabama, nearly one in every 84 jobs across all industries are a result of the business operations of Regions,” the banking company said in a statement accompanying the report.

The report also found that Regions directly and indirectly was responsible for more than $101.8 million in state and local tax revenue, provided $5.86 million to state charities through volunteerism and corporate and employee donations, and that its direct impact of $1.9 billion accounts for more than 1 percent of the state’s gross domestic product.

In a presentation of the impact report’s findings to the Rotary Club of Birmingham CEO Grayson Hall said that, including direct and indirect impact and the bank’s lending, the institution’s total impact in the state is $7 billion. As such a significant presence in the state, the banking company has an outsized responsibility, he said.

“It’s important for us that we … be champions and partners in economic development,” he said.

Regions has issued loans totaling $858 million from a $1 billion loan pool it created in February for lending that would impact economic development, he said.

Separately, Hall also addressed the mortgage lending crisis that crippled much of the banking industry.

Hall said that new regulation of the financial industry following the crisis is welcomed by Regions. “None of us want to repeat the last five years,” he said. “We need stronger rules. We need stronger regulations and we need stronger regulators.”

In April Regions repaid $3.5 billion in federal Troubled Asset Relief Program loans.